During a Division audit of an Ohio brokerage, the auditor finds that a salesperson has been collecting rental deposits and keeping them in a desk drawer for several days before delivering them to the broker. Under Ohio law:
Correct Answer
A) Both the salesperson and the broker may face disciplinary action — the salesperson for improper handling and the broker for inadequate supervision
Under Ohio law, trust funds must be promptly delivered to the broker for deposit into the trust account. The salesperson's practice of holding funds in a desk drawer violates proper trust fund handling. The broker is also responsible because the broker has a duty to supervise and ensure proper procedures are followed.
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